Peter Hearl told shareholders at the AGM that “there is much more to do” regarding lifting the group’s sagging share price.
Endeavour chairman Peter Hearl has told shareholders at the hotel and liquor retailer’s annual meeting in Sydney that “there is much more to do” when it comes to lifting the company’s sagging share price.
“While we continue to seek a constructive solution to the current shareholder campaign, we are focused on delivering value for all shareholders,” Mr Hearl said. “In this regard, we face an increasing cost of capital with rising interest rates impacting the value of our significant real asset exposures, as well as lower levels of consumer confidence as household discretionary incomes are put under pressure by those same interest rates, rising petrol prices, utility costs and food inflation.”Endeavour shares rose in early trade to above $5 but are down 25 per cent over the past six months.
On Tuesday, Endeavour chief executive Steve Donohue said the hotels and liquor retailing group plans toand cut investment in its rapid delivery service as it tries to lift shareholder returns.
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